FIS API Blog
Verdict – Short-term neutral. DCE iron ore Jan21 refreshed low again and created two consecutive correction with lower highs and lows. However the support was strong around 552.5- 557.5 area. A breakdown on this area would trigger a big correction. Otherwise iron ore expected to exhaust in the narrow area. Hourly MACD narrowed above 0 …
Continue reading “Iron Ore DCE Jan Daily Technical Review 5/11/21”
Verdict – Short-term neutral. DCE iron ore Jan21 refreshed listed low during the last few minutes of night session yesterday. However iron ore strongly recovered this morning. DCE iron ore technically consolidate in a range box of 557.5- 597.0 area, price movement gradually slow down within this area. Hourly MACD indicated a neutral after narrowing …
Continue reading “Iron Ore DCE Jan Daily Technical Review 4/11/21”
Verdict – Short-term neutral to bullish. DCE iron ore started recovery sentiments after a big slump over the past five trading days. The opening slight high last night indicated smart money was not very pessimistic on the current market. Iron ore rebound fast during the day from a negative 3% to negative 0.42% by closing. …
Continue reading “Iron Ore DCE Jan Daily Technical Review 3/11/21”
Verdict – Short-term neutral to bearish. DCE iron ore Jan contract volatile in narrow range during the day, however saw lower lows and lower highs. Iron ore was running in a descending tunnel. Hourly CCI decreased to the lowest since September 17th. Slow stochastic KD consolidate in netural range. Hourly MACD created dead cross below …
Continue reading “Iron Ore DCE Jan Daily Technical Review 1/11/21”
News Headlines: Oil prices edge higher but set for first weekly drop since August (Reuters) Oil prices edged up on Friday but were headed for their first weekly losses in at least eight weeks after U.S. oil stocks rose more than expected and Iran flagged it was resuming talks with Western powers which could …
Verdict – Short-term neutral to bearish. China thermal coal futures and coking coal futures all reached limit-down which bring back a bearish sentiment on all ferrous market. Iron ore corrected and breakdown important support level around 639.0 – 643.0 and went back to descending tunnel. Hourly MACD widened below 0 axis. Hourly CCI went into …
Continue reading “Iron Ore DCE Jan Daily Technical Review 29/10/21”
Verdict – Short-term neutral. DCE iron ore January contract tested low in Asian morning however recover most of losses during this afternoon. The contract created a monthly low. However the quick rebound on the low indicated iron ore was not ready to test low in following sessions. Hourly KD created gold cross. Hourly CCI went …
Continue reading “Iron Ore DCE Jan Daily Technical Review 28/10/21”
Verdict – Short-term neutral. DCE iron ore January contract tested low in the morning session following the general correction on coal sector. However iron ore went back to its own technical range and became the strongest contract among ferrous complex. Hourly MACD widened above 0 axis. Hourly CCI approached bullish territory. The first support is …
Continue reading “Iron Ore DCE Jan Daily Technical Review 27/10/21”
Verdict – Short-term neutral to bullish. DCE iron ore January contract started a small round of rebound from a month low. However the recovery of the rebound needs a confirm to breakthrough 711.5. Hourly MACD narrowed. Hourly slow stochastic KD created a dead cross below overbought area. Technical signals were indicating the rebound was in …
Continue reading “Iron Ore DCE Jan Daily Technical Review 25/10/21”
News Headlines: Oil prices extend gains to multi-year highs on tight supply (Reuters) Oil prices climbed on Monday, extending pre-weekend gains to hit multi-year highs as global supply remained tight amid solid fuel demand in the United States and elsewhere in the world as economies pick up from coronavirus pandemic-induced slumps. To view …
